The traditional aid-to-investment-to growth linkages are not very robust, especially for African economies. Aid does not necessarily finance investment and investment does not necessarily promote growth. Differences in economic policy, on the other hand, can explain much of the difference in...

Aid does not necessarily finance investment, and investment does not necessarily promote growth. But the combination of private investment, good policies, and foreign aid is quite powerful. When societies themselves take the lead in putting growth-enhancing policies in place, foreign aid can...

Vietnam grew rapidly in the 1990s, and yet by many measures it has poor economic institutions. Dollar seeks to explain this apparent anomaly. Between the 1980s and 1990s Vietnam carried out significant economic reforms, notably stabilization, the introduction of positive real interest rates,...